Newton School, the Bengaluru-based edtech startup building a neo-university for aspiring software developers, has raised $25 million in a Series B funding round.
The round was led by Steadview Capital, the global investment firm whose portfolio includes Indian unicorns Nykaa, Polygon, Zomato and Freshworks. Existing investors Nexus Venture Partners and RTP Global also participated in the round.
The capital raised will be used to accelerate the company’s growth and expand its team, technology and brand building initiatives, the startup said in a statement.
“This fundraise will enable us to build a strong brand and leadership team while investing in innovative technologies like AI to transform education. In India, you have more than a million college graduates every year who fail to get relevant employment opportunities, and yet there are thousands of companies struggling to find talent. Newton School’s learning platform aims to bridge this gap, and we are excited to partner with like-minded investors who believe in the transformative powers of industry-oriented education and the internet,” said Newton School’s founders Siddharth Maheshwari and Nishant Chandra.
“We’re thrilled to support Siddharth, Nishant and the Newton School team in realising their vision of a technology-driven neo-university. In a country where graduates are left with single-digit employability rates despite spending significant amounts of money on education, Newton School’s unique model and platform will support the aspirations of millions of Indians by removing location barriers and lowering costs. We are confident in Newton School’s growth potential and are proud to partner with them in addressing crucial needs in the Indian education sector,” added Puneet Kumar, managing director at Steadview Capital.
Newton School’s Series B round follows just a year after it raised $5 million in a Series A round led by RTP Global and angels such as Flipkart’s Kalyan Krishnamoorthy, CRED’s Kunal Shah, Freshworks’ Girish Mathrubootham, Udaan’s Sujeet Kumar, and the founders of Unacademy and Razorpay.
Bengaluru-based tech-focused investment bank, IndigoEdge, served as the exclusive transaction advisor to Newton School.